Swing Trader Pro: Afternoon Briefing (11-09-2022)

JC Parets
November 9, 2022

From the Desk of Kimmy Sokoloff

It was a rough one for the market today.

Tomorrow's release of CPI data for October (8:30 a.m. ET) is dragging on things.

Here are today’s trades:

  • I shorted $MCD at 279 and covered at 278.01.
  • I bought $AMZN at 87.65 and sold at 87.97.

I called out two trades before I had to run out:

  • Short $NKE at 92.70 and cover at 92.22.  
  • Short $TGT at 153.69 and cover at 152.68.

I stress to the room that shorting is very difficult, and I don't recommend it for most people, even in a down tape.

I booked one loser today:

  • I bought $LEN at 81.20 and sold at 80.50. It was at breakeven but I didn't sell, unfortunately

I have an open $TSLA long; that's not the smartest move at all!!

We hit the support levels I spoke about this morning at $SPX 3,757.

In the live trading room I've mentioned that if this market doesn't push higher, we have a rising wedge formation. And today this pattern is playing out.

We run the near-term risk down to $SPY 370. Not an easy day all around.

We’ll see you live tomorrow’s open to start the trading day.

And please reach out with any questions.

All Star Charts Team

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